Vat liability on flat purchase

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Kuldeep Sawant (Querist)
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29 August 2012 Sir, my friend purchase flat in 2009. flat is ready possession flat. Please tell me whether he applicable to pay 5% vat which is charged right now? or if yes then on which amount he need to pay vat. full amount of agreement or part of it?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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29 August 2012 I Think VAT is Payable.
Lets See What Other Expert Opinion is ?

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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29 August 2012 Mr Kuldeep Sawant,
This pertaind to which area?. However, VAT is payable @ 5% on the construction cost only. This excludes cost of land and charges for registration,elctricity water sewage and cable connections and also collection made for amenities like,club,sports,swimming pool etc. I have given repliees to many queries on this subject. Please refer to expert file of this web site.....MJK

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